April 1996

In This Issue:


BOARD ALLOCATES FUNDS

The Arkansas Soybean Promotion Board held two meetings in March with the main order of business being the allocation of funds for 1996.

On March 1, the board met by committee with all project leaders for the purpose of reviewing status of 1995 research projects and to review new proposals for 1996. Following those discussions, each of the three research committees formulated their funding recommendation for the new year.

Recommendations of each committee were as follows:

  • Priority Area I, Improving Soybean Profitability, $973,805
  • Priority Area II, Base Programs, $360,962
  • Priority Area III, New and Innovative Research, $85,000

Total research funding for 1996-97 will be $1,419,767.

A complete listing of projects and their level of funding can be obtained by contacting the board at 501-228-1265.

Other actions taken during the March meetings included funding of a producer communication program to include production and distribution of three newsletters in the amount of $9,000.

Paul McCutchen was selected for renomination to the United Soybean Board. McCutchen's current term expires in December. Roger Pohlner was selected as the secondary nominee for that position.

Printing and distribution of the Soybeans Today publication by the Cooperative Extension Service was again authorized for 1996 with completion targeted for mid-December. The board requested that this publication replace the annual report brochure which was produced in addition to Soybeans Today in 1995.

The board also set Dec. 12, 1996, as the date for the annual Soybean Research Conference. Although no specific location has been determined, the board requested that it be held in east central or southeast Arkansas this year. Additional information on the conference will be included in future reports.

ARKANSAS SOYBEAN PROMOTION BOARD FINANCIAL REPORT

JULY 1, 1995, THROUGH MARCH 31, 1996
REVENUE:
Gross Collections                               $2,629,408
Beginning Fund Balance                             206,446
Excess Refunds Escrowed/Refunds Paid                 5,143
       TOTAL AVAILABLE REVENUE                  $2,840,997
Less:
Refunds Escrowed                                $   32,652
Transfers to other QSSBs                            57,240
United Soybean Board                             1,282,724
Revenue & Treasury                                  77,903
   Total Deductions                              1,450,519
       NET AVAILABLE REVENUE                    $1,390,476
EXPENDITURES:
Research & Extension                            $1,200,000
Producer Communication                              26,779
Administration                                      12,444
       TOTAL EXPENDITURES                       $1,239,223
ACCUMULATED REVENUE:
Available Revenue                               $  151,255

RESEARCHERS, GROWERS SHARE INFO AT CONFERENCE

Nearly 700 producers, extension educators, researchers and agribusiness representatives gathered at Memphis in February for the 4th annual Southern Soybean Conference, which featured 14 sessions on topics ranging from weed control to precision farming to global positioning technologies.

Conference presentations included sessions on reduced tillage, early season production systems and the latest weed control options for producers.

In addition, conference attendees heard discussions on the impact of the new seed laws, updated worker protection standards, the latest progress toward development of a drought-tolerant soybean variety and 1996 market strategies and price outlook for soybeans.

The conference was free to registrants, sponsored in part by checkoff dollars from the USB and in cooperation with the American Soybean Association.

States participating in the conference, in addition to Arkansas, were Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, Oklahoma, South Carolina, Tennessee, Texas and Virginia.

USB REVISES STRATEGIC PLAN AT MARCH MEETING

During the March meeting of the United Soybean Board , minor revisions were made to the organization's long-range strategic plan. The plan is a simple yet aggressive goal for the soybean industry through the year 2005.

Printed below is the plan in its entirety.

Purpose: USB was created to invest checkoff funds to benefit U.S. soybean farmers.

Mission: Create an environment within which U.S. soybean producers can maximize profits.

Strategic Direction: Increase utilization of U.S. soybeans; improve U.S. soybean production efficiencies.

Administrative Goal: Assure that USB Board, committee and staff structures support effective and efficient accomplishment of mission.

Strategies:

  1. Enhance communication of USB information to producers and the public
  2. Enhance coordination with QSSBs
  3. Coordinate and evaluate program areas
  4. Provide soybean industry with information on production and utilization

New Uses Goal: Develop new uses to increase U.S. soybean utilization by 300 million bushels by 2005.

Strategies:

  1. Foster and provide incentives for development of new products
  2. Identify new uses products and applications with significant market potential
  3. Set measurable milestones; i.e., criteria for evaluation and criteria for marketing and commercialization

Domestic Marketing Goal: Increase and expand domestic marketing utilization and market share of U.S. soybeans by 150 million bushels by 2005.

Strategies:

  1. Increase soy utilization through value-added production
  2. Increase edible products' utilization and market share
  3. Increase industrial products' utilization and market share

International Marketing Goal: Increase exports and increase U.S. market share to 60% of worldwide export market by 2005.

Strategies:

  1. Gain major shares of new large expanding markets
  2. Increase market share in current markets
  3. Capitalize on our unique competitive edge

Production Goal: Produce U.S. soybeans more efficiently and in an environmentally friendly manner to meet anticipated 3-billion-bushel demand by 2005.

Strategies:

  1. Provide basic and applied research
  2. Improve technology transfer from research to producer
  3. Facilitate coordination of all segments of technology and research

CELEBRATING SOYFOODS THROUGHOUT APRIL

April was the first-ever National Soyfoods Month, funded with checkoff dollars
through the
United Soybean Board.

A major merchandising, promotional and public relations campaign to encourage consumers to increase use of soybeans revolved around the theme: "The Bean Supreme."

The Soyfoods Association of America is offering several items for retailers and other organizations to use during National Soyfoods Month, as well as year-round, for soyfood promotions, including posters, "shelf-talkers," T-shirts, aprons, brochures and a newsletter that can be customized for different logos.

CALENDAR

July 26 - 30 - United Soybean Board meeting, St. Louis
Aug. 7 - Arkansas Soybean Promotion Board meeting, location to be announced
Dec. 11 - Arkansas Soybean Promotion Board meeting, location to be announced
Dec. 12 - Arkansas Soybean Research Conference, location to be announced
Dec. 13 - 17 - United Soybean Board meeting, St. Louis

Arkansas Soybean Promotion Board members are:

Stanley Reed, Marianna, Chairman
Roger Pohlner, Fisher, Vice-chairman
Art Simpson, Marked Tree, Secretary-Treasurer
Jerry Ford, Lake Village
Joe Kirksey, Mulberry *
Paul McCutchen, Parkin *
Bryan Moery, Wynne *
Mary Ratcliffe, Sweet Home
David Walt, Dumas

* Designates representatives on the United Soybean Board

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For additional information about any board-related activity contact:

Arkansas Soybean Promotion Board
ATTN: Ewell Welch
P.O. Box 31
Little Rock, AR 72203-0031

Phone: 501-228-1265.


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